Oxley's sales revenue in Singapore hit $1b in 2018

It expects to launch 7 more projects worth $3.8b.

Oxley Holdings’ sales revenue hit $1b in Singapore and $446m overseas so far within 2018. It plans to launch 12 more projects in the city worth $3.8b.

According to its corporate presentation, phase 1 of Riverfront Residences has contributed most to sales revenue at $515m, translating to 575 of 800 (72%) units sold. All 170 units in Verandah Residences are sold out and have generated revenue of $249m.

Fifty two of 60 units (87%) in Sixteen35 have been sold for $48m, 21 in 24 units (88%) of Sea Pavillion Residences have been sold for $28m, whilst 130 out of 300 units of Affinity Residences’ phase 1 have been sold for $160m.

Local project margins range from 12% for Ampas and Parkwood Residences, with average selling prices (ASP) of $1,850 psf and $1,800 psf, to 25% for Verandah Residences with an ASP of $1,800 psf. Total profit from local projects is at $873.3m.

About $3.8b worth of local projects will be launched this year, including the following projects: Parkwood Residences, Vista Park, Mayfair, 21 Meyappa Chettair, Ampas, 1 Balestier 3 Tessensohn Road, and Pei Fu Industrial.

Oxley also mentioned that overseas sales led to a revenue of $446m in total and was led by Royal Wharf (50 units sold), KLCC (62.5% of 200 units sold), and Dublin Landings ($267m). About $3.1b worth of overseas projects will be launched this year.

Meanwhile, its hotels Novotel and Mercure have occupancy rates of 70% and 65% respectively from January to June 2018. “Occupancy rate has been on the uptrend,” it commented.